The president said that the federal government’s estimated total revenue was N6.607 trillion in 2018, about 30 per cent more than the 2017 target.

“As we pursue our goal of revenue diversification, non-oil revenues will become a larger share of total revenues.

“In 2018, we project oil revenues of N2.442 trillion and non-oil as well as other revenues of N4.165 trillion ,’’ he added.

The president said that non-oil and other revenue sources of N4.165 trillion would include share of Companies Income Tax (CIT) of N794.7 billion, Value Added Tax (VAT) of N207.9 billion as well as Customs and Excise Receipts, N324.9 billion.

“Others are Independently Generated Revenues (IGR) of N847.9 billion, Federal Government’s share of tax amnesty income of N87.8 billion and various recoveries of N512.4 billion.

It also includes N 710 billion as proceeds from the restructuring of government’s equity in joint ventures and other sundry incomes of N678.4 billion.

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